# ALLIED WORLD

**Endorsement No:** 1  
**This endorsement, effective:** May 21, 2016 (at 12:01 A.M. prevailing time at the address of the Named Insured as shown in Item 1(b) of the Declarations)

**forms a part of Policy No:** C020117/003  
**Issued to:** International Business Machines Corporation

**(d.) Companion Policy(ies):**  
- **ACE Bermuda Insurance Ltd.**  
  - **May 21, 2016 to May 21, 2017**  
    - **USD25,000,000** Per Occurrence  
    - **USD25,000,000** Aggregate  
    - **USD100,000,000** Per Occurrence  
    - **USD100,000,000** Aggregate  

**(e.) Excess Liability:**  
- **Liberty Insurance Underwriters Inc.**  
  - **May 21, 2016 to May 21, 2017**  
    - **USD25,000,000** Each Occurrence  
    - **Products Completed Operations Aggregate General Aggregate**  
      - **USD25,000,000** Part of  
        - **USD100,000,000** Each Occurrence  
        - **USD100,000,000** Products Completed Operations Aggregate  
        - **USD100,000,000** General Aggregate  

**(e.) Companion Policy:**  
- **Magna Carta Insurance, Ltd.**  
  - **USD25,000,000** Each Occurrence  

**Ref:** ACBSF-401c (AWAC Ed. 11/14)

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